Dec 11, 2012 12:00am PST
have higher tax rates on top earners. tennessee senator bob corker told fox news sunday that republicans should give ground on taxes and concentrate on long-term spending cuts. >> the focus then shifts to entitlements. maybe that puts us in a place where we actually can do something that really saves this nation. so there is a growing body -- i actually am beginning to believe that is the best route for us to take. >> woodruff: but on nbc, house majority whip kevin mccarthy countered that that approach is the wrong way to go. >> it doesn't solve the problem. the president is asking for higher rates, he's asking for more revenue. most economists agree the best way to get that is through closing special loopholes. when you close those it makes a fair tax process. >> woodruff: a new poll from politico and george washington university backed the president's position. 60% favored raising taxes on households earning more than $250,000 a year. 38% were opposed. another survey last week found that by a 2-to-1 margin, americans would blame republicans if there's no agreement by t
Dec 11, 2012 5:30pm PST
senator bob corker. gwen ifill has our next installment. >> ifill: a senior democrat on the house banking committee and the vice chair of the centrist new democrat coalition. welcome, congresswoman. we heard earlier today from john boehner and from jay carneyt the whit housnesaying spding cuts aren't serious coming from the house and the other saying the white house has put forth all the spending cuts that need to be put out. how do you prioritize what should be the focus here: spending cuts or raising revenue? >> most of us know it's got to be both. the fact is the president put out a really very sensible plan, middle-ground where it actually included spending cuts. we've already done a trillion dollars and we'll be doing another trillion dollars over a trillion dollars in cuts. that's $2 trillion. that's serious spendg cu overnd above what we've done already. and of course we do think there has to be some revenue. then we're going to make sure we're doing the right kind of investments so we see economic growth. if it's not all three we're not going to get there. the math doesn't add up.